Who Offers the Best Mortgage Rates?
In the previous section, we discussed the fact that lenders have a broad range of interest rates they can assign to loans. In order to get the best rate, you have to meet certain criteria established by a particular lender. So it’s hard to say who offers the best deals at any given time, because there are so many variables at play. In other words, a well-qualified borrower can probably get a good deal from any lender. Granted, one mortgage company might be able to shave off a tenth of a point here or there, but it really comes down to the borrower’s qualifications. That’s the key to all of this. Here’s what it boils down to. Trying to figure out who offers the best deals on mortgage loan is only half of the picture. You also need to ask the question, “What can I do to make myself better qualified in the eyes of a lender?” If you can improve your credit score and pay down your debt, you’ll have a much easier time getting a low rate.
